South Carolina Representative Sheri Biggs Invests in BlackRock's Bitcoin ETF

US Representative Sheri Biggs from South Carolina has continued to demonstrate her support for cryptocurrencies by investing in BlackRock's spot Bitcoin ETF (IBIT). According to recent disclosures, she purchased up to $250,000 of the product on March 4, just a few days after the US-Israel conflict with Iran broke out.

The purchase marks Biggs' second investment in IBIT, which was previously disclosed last July. At that time, she also bought shares in Apollo's private credit fund and sold Oaktree's similar product. The investment has been made amid a volatile period for the cryptocurrency market, with Bitcoin's price dropping to $67,800 at one point before rebounding by around 14%.

As a pro-crypto advocate, Biggs has voted in favor of several bills supporting digital assets, including the CLARITY Act and the GENIUS Act. Her investment in IBIT is seen as a continuation of her efforts to promote crypto adoption in the US.